Despite more new listings, inventory continues to drop because of the increased sales.

The demand for homes in Calgary is resulting in numerous bidding wars. Yesterday, 25% of all sales were for list price or higher. A home in Scenic Acres which was listed for $458,000 had an accepted offer after one day on the market and sold for $468,000. It was purchased in 2001 for $209,000.

A tear-down on a 50′ lot in Montgomery also sold in one day. It was listed for $419,000 and sold for $432,500.

The March median price will break all previous records. It’s surprising to see that sales are up considering the inventory shortage.

20% of homes sold in the past 2 days went for list price or higher. A 1931 Mt Pleasant bungalow which was listed for $449,900 sold for $502,100. It had an accepted offer in 1 day.

It’s a hot seller’s market for homes in the 0 – $400,000 price range, with only a 35-day supply of inventory. Also in that price range, 78% of all new listings are selling within 30 days.

For homes above $400,000, there’s a 72-day supply.

******Alberta’s population is closing the gap with BC. If both provinces continue to grow at the same rate as last year, Alberta will surpass B.C. and become the third largest province within eight years. Alberta’s population growth is best

Over the past two days, 20% of the sales have been for list price or higher. 31% of the homes listed in the past 30 days already are sold or conditionally sold. Concern: First-time buyers are down 8% compared to last year. Are they being priced out?

A tear-down bungalow in Capitol Hill was listed two days ago for $524,900. It sold in one day for $540,000. Builders seem to have confidence in this market.

Also two days ago, a home in Elbow Park sold for list price, $1.6 million, after two days on the market.